Answered: A major focus of managerial accounting…

Business

Accounting

A major focus of managerial accounting is the development of costing information. True or False

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 1DQ

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Question

A major focus of managerial accounting is the development of costing information.

True or False

Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

Expert Solution

Step 1

In managerial accounting, financial data is presented for internal uses so that the management can use it to make important company decisions. In contrast to financial accounting, managerial accounting techniques are not constrained by accounting rules.

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